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Posted: December 31, 2019
2019 Year in Review: Joseph Aquino, JAACRES
Name: Joseph Aquino
Company: JAACRES
What are your predictions for commercial real estate in 2020?
2020 will see far more deals. Property owners will finally stop saying, “I coulda got this rent (and they name a figure) three years ago.” This year, If the property owner sees a warm suitable retailer, rest assured they are doing the deal.
The luxury market will continue to shrink in location count and even in inventory, too. If you have the money, ha, ha, to purchase your hearts desire garment, rest assured you must go out early in the season if you want to find your size and color.
Food and beverage spaces will continue at the rate of $300-$400 per s/f for that prime high traffic corner space. You will hear more from The American Dream in East Rutherford, NJ. Everyone will be saying, where is that? No worries, you’ll hear so many new store openings, just follow the noise.
Tourism will continue to increase in Manhattan and hoteliers will be happy and so will the restauranteurs. Cyclists will be happy too, because they will control the city.
Property owners will complain more about the change in housing laws while their lifestyle won’t change.
Impeachment will not happen since that office is now known as The Teflon Don.
Brexit will happened in early 2020 and Boris Johnson will be The U.K.’s new hero!
Somehow, 2020 will be fantastic for you and me…
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